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Gold has a myriad of uses outside of it being a heavy rock. If it's price were to drop substantially it's use in industry would increase substantially and we kn
by cglace 9y ago
Gold has a myriad of uses outside of it being a heavy rock. If it's price were to drop substantially it's use in industry would increase substantially and we know what happens to price when demand increases.
- soneil 9y agoI don’t think industry is the floor you think it is. They’ll happily pay as little as they can for it. I think the more honest measure is simply how many people have faith in it. Bitcoin and gold may be logically equivalent for this function, but a lot more people have a lot more faith in gold.
- cglace 9y agoAnyone will happily pay as little as possible for anything. I don't see your point.